The bulk of Wayfair’s gains last month came as the stock jumped more than 10% on Jan. 10, shortly after Wayfair CEO Niraj Shah spoke at the 19th Annual ICR Conference in Orlando, Fla.More specifically, Shah noted that Wayfair’s performance was “quite strong,” both overall and during the five-day holiday shopping period of Thanksgiving through Cyber Monday. Shah further stated that while there was “some consumer uncertainty” as management had warned during its third-quarter 2016 report earlier in November — which effectively sent shares plunging to end the year — in retrospect “it wasn’t really to any significant degree.”
Category: Cyber Monday
Last-Minute Spending Surge Lifts Holiday Shopping Season
A jump in consumer spending in the final stretch of December significantly offset a slow start to the U.S. holiday shopping season, and is likely to help many retailers beat sales forecasts, industry research groups said on Tuesday. The December spending boost is in contrast to a muted November, when early holiday promotions and expectations among consumers that deals would always be available took a toll.